IN BRIEF: Advent says bid for Spectris final leaving way clear for KKR

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Spectris PLC - London-based provider of high-tech instruments, test equipment and software - Advent International LP says 4,100 pence per share bid for Spectris is final and will not be increased. Leaves the way clear for US private equity firm Kohlberg Kravis Roberts & Co which, on Tuesday, lifted its own offer to 4,175p per share, which Spectris accepted. The bid values all Spectris equity at £4.2 billion and implies an enterprise value of £4.8 billion. On Friday last week, Spectris had accepted the increased offer from Advent and withdrew its recommendation of a £40 per share bid from KKR but switched horses again on Tuesday.

Current share price: 4,164.00 pence, closed up 0.1% in London on Friday

12-month change: up 44%

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